Every Saturday, Hodler Digest helps you stay on top of all the important news of the week. The best (and worst) quotes, rules and highlights, predictions and more – one week on Cointelegraph in one link.

The best stories of the week

 

Bitcoin traders are concerned now that the price remains below $50,000.

After reaching a low of $43,500 last Sunday, Bitcoin made a comeback and managed to reach $52,000 on Wednesday. There has been some optimism that the correction is over and that BTC can return to temporary highs.

Unfortunately, the best laid plans of mice and humans often go awry. Fast forward to this weekend, and Bitcoin is once again struggling to break through the $50,000 mark – a psychologically important milestone. The nerves are starting to work.

A drop below the recent low of $46,000 could open the door for further declines and threaten the upward trend that has been underway for nearly a year …. , at least in the short term. The pseudonymous trader Rekt Capital estimates that BTC could reach a bottom between $38,000 and $45,000 if this level is not maintained.

Traders are now beginning to speculate that Bitcoin may continue to trade sideways. The sluggish macroeconomic environment, dominated by rising bond yields and falling technology stocks, certainly doesn’t help.

On the other hand,there are always measures to ward off the gloom…. as long as everything is in order. TheGlassnode Reserve Risk indicator suggests that the BTC rally is still in the – phase from start to finish after this week’s setback. Oh, that’s great. Then there’s nothing to worry about.

analyst advises Tesla to buy back Bitcoins as shares plummet in

Tesla is now under pressure to sell its $1.5 billion stake in Bitcoin. Since the electric car maker announced the acquisition of its cryptography business, TSLA shares have fallen 30.8%.

Gary Black, former CEO of Aegon Asset Management, tweeted that Tesla would generate positive momentum if it switched to cryptocurrency, adding: Very unlikely, but the shareholders would be very helpful.

The price correction of Bitcoinalso affected MicroStrategy, a business intelligence company with over 91,000 BTC. In less than a month, the MSTR share price has fallen from to 52.8% .

The company doesn’t seem too concerned. MicroStrategy bought another 205 BTC this week, spending $10 million to coincide with the latest drop.

Although the software company began investing its existing assets in BTC in 2020, when Bitcoin was trading at around $ $10,000, recent purchases have yet to bear fruit.

 

Les Rois de Léon release an album titled NFT

Buckle up… We have so much news from the NFT. One of the most exciting songs of the week was the announcement of the release of Kings of Leon’s eighth album – and that’s just a taste.

Three types of TNFs are offered, the rarest of which offers lifetime front row seats to Kings of Leon concerts, a private driver, and the opportunity to hang out with the band before shows.

The excitement in the TNF industry doesn’t stop there. The rarest of them all, Homer Pepe, was tested this week for .205 ETH …. which, at the time of writing, is worth 323 000 $ . Meanwhile, the NFT, consisting of 100 individual works by 100 different artists, sold out at Rarible in minutes.

Aavegotchis – the NFTs inspired by the Tamagotchi devices that were so fashionable in the late 1990s and early 2000s – were broken in less than a minute. And while NBA Top Shot sales continue to rise, Michael Rubin, CEO of Fanatics, said: It’s almost too crazy what’s happening now.

As if that wasn’t crazy enough, Banksy’s original work was burned and turned into NFT. Ironically, the piece is called Idiots and is about buyers at an art auction selling a piece that says: I can’t believe you idiots actually buy this crap.

 

Tether has been hit with a ransom demand for 500 BTC, but says he will not pay.

Tros, who is still recovering from his confrontation with the New York Attorney General, is really struggling to rest at the moment.

This week hackers threatened to release secret company documents that would have belonged to Tether…. would have belonged unless you paid a ransom of 500 CTBs, a whopping $23.8 million at the time.

Tooser announced the event on Twitter, under the title We Don’t Pay.

The deadline has passed, but it’s still unclear if the extortionists are just trying to get their hands on the money, or if it’s all part of a larger effort to undermine Terah and the rest of the Bitcoin ecosystem.

In any case, those who seek to harm the Tether are becoming increasingly desperate, the society adds.

No prohibition of cryptography in India: Minister of Finance provides a very calibrated view

There is a new twist in the Will saga, isn’t there, about the proposed ban on cryptocurrency in India.

Indian Finance Minister Nirmala Sitharaman said Saturday that reports that the government is seeking a total ban on cryptocurrency are exaggerated. He stressed that the rules would not be as stringent as had been previously reported and that the authorities were determined to adopt a very calibrated approach.

The comments will certainly be useful to crypto entrepreneurs and investors in the world’s second most populous country after years of uncertainty.

At one time, India was considering introducing prison terms of up to 10 years for those caught trading cryptocurrencies – in addition to a hefty fine. The country’s central bank also banned banks from offering services to crypto entrepreneurs, which led to the collapse of several of these companies. These restrictions were sensationally overturned by the Supreme Court last year.

Sitharaman’s recent comments contradict a Bloomberg report last month that said crypto assets will soon be completely banned in India.

Winners and losers

At the end of the week bitcoin is $48,445.86, ether is $1,607.45 and XRP is $0.46. Total market capitalization is 1,484,740 419,357.

Among the first 100 cryptocurrencies, the top three altcoins of the week are the Chiliz, the Enjin and the Flow. The three best altcoiners of the week are: Cardano, 1inch and Stellar.

For more information on cryptocurrency prices, don’t forget to read Cointelegraph’s market analysis.

Most memorable quotes

You have to look for relative strength when others are weak. Global Macro sold out yesterday, and BTC doesn’t care.

Kyle Davis, co-founder of Three Arrows Capital

Bitcoin is dramatically opposed to macroeconomics.

Lex Moscow, Director of Moscow Capital

The fact that Bitcoin remains strong, even as the GBTC acts as a resistance group to slow it down, is very reassuring and shows me that the global story, the story of accelerated adoption, remains intact.

Chad Steinglass, CrossTower Business Manager

I think there is a tremendous amount of value being created, but also so many people that I don’t think everyone will succeed.

Michael Rubin, Chairman of the Board of Fanatics

This is the beginning, but I think this is how people will leave their mark in the future: If they sell for $100,000 each, they only make $100,000.

Josh Katz, CEO of Yellow Heart

I think Reed Hastings is a very innovative man, he has a lot of creativity and I think he still holds the reins of Netflix, so I think this could be the next big project.

Time Draper, Series Investor

What we see built today with cryptography is just a proof of concept. As the technology improves, becomes cheaper and faster, there will be new applications and maybe even something that will replace what we now know as cryptography.

Cuban Mark, billionaire

I consider HOMERPEPE to be the most important TNF in the history of art because its sale in 2018 influenced many artists of original cryptography to believe that we can align our art with the work by creating a market and a belief around this new technology.

Matt Kane, artist

Is Bitcoin a currency? The property? Active? Maybe I’ll do all of the above with a 3% portfolio.

Kevin O’Leary, Shark Tank Investor

Bitcoin has earned almost 200% (almost triple your money) every year for the past 10 years, *shortly*.

CaseBitcoin

We are sending a clear message to the whole sector: Either you play by the rules or we lock you up.

Leticia James, Attorney General of New York

Those trying to harm Tether are becoming increasingly desperate.

Cable

There are many risks and obstacles to Bitcoin’s progress. But when you weigh these potential obstacles against opportunities, you come to the conclusion that Bitcoin is at an inflection point.

Citi

Outlook for week

 

The price of Bitcoinwill be infinite – Kraken CEO

Hodler’s Digest has predicted pretty high bitcoin prices over the years – $ $500,000 $ here, $ $1 million $ there. Determined not to back down, the Kraken’s CEO has gone on the offensive…. The prediction that BTC would cost infinitely.

Jesse Powell believes that one day humanity will simply stop pricing Bitcoin in U.S. dollars – he told Bloomberg that a price of $0.9 to $0.9 million is appropriate 10 years from now.

Maybe the research of the company he runs is a little more realistic. Kraken’s latestanalysis suggests Bitcoin could reach its next peak between $75,000 and $306,000.

FUD of week

 

Arthur Hayes and Ben Delo of BitMEX agree to surrender to US authorities

The former CEO of encrypted derivatives exchange BitMEX is due to meet with US authorities next month.

Arthur Hayes and his fellow directors are accused by the US Department of Justice and the Commodity Futures Trading Commission of violating the Bank Secrecy Act.

The transcripts of the virtual court hearing show that the 6. April in Hawaii to travel to the United States – six months after his escape.

 

McAfee is charged in a New York State court with cryptography fraud.

For John McAfee, the charges are piling up. The pioneer of monetary cryptography and Internet security is now accused of fraud and conspiracy to launder money. The allegations relate to two systems where cryptocurrency was fraudulently advertised to investors.

Prior to today’s news, McAfee was already facing accusations of tax evasion and initial coin offerings by US regulators, which he allegedly announced for a fee without properly informing the public.

After fleeing the U.S. government in 2019, McAfee was arrested in Spain in October 2020.

 

Dev says Meerkat’s $31 million financial abuse was a test and the funds will be returned.

The alarm was sounded this week when Meerkat Finance, a decentralized financial protocol based on Binance’s smart channel, lost $31 million – just hours after its launch.

The team first claimed to be victims of exploitation, but then deleted all of its social media feeds. Because of the nature of the crime, some people think it’s a cowboy scam.

But there may also be good news for the victims of this exploit, which is one of the most significant in DeFi’s short history. – Developer Meerkat Finance published an article on the newly created Telegram channel, revealing that the exploit was a test of user greed and subjectivity – adding that the team was preparing to compensate all those affected.

Best coin features

 

DeFi who? NFTs are the new heads for cryptoblock.

NFT picks up where DeFi left off, and data suggests asset symbolization will dominate through 2021.

 

Crypto Pepe: What kind of a frog is that?

Cointelegraph magazine interviews BarnBridge founder Tyler Ward, who accidentally created the craze for Pepe the Frog NFT memes.

 

Hype Price: Billionaire cryptocurrency companies on the rise

Songs that hit the nail on the head: Analysts and industry experts have looked at encryption companies like Coinbase and Kraken, which are valued in the billions.

Related Tags:

Privacy settings,How Search works,new cryptocurrency,cryptocurrency prices,is bitcoin safe,bit coin price